The Hoyts Corporation Ltd - variation - s.87B undertaking

Withdrawal of undertaking

This is the withdrawal of the Undertaking offered by The Greater Union Organisation Pty Ltd (Greater Union) and The Hoyts Corporation Pty Limited (Hoyts) with respect to the joint operation of cinema complexes in the Brisbane CBD at the Regent and Myer Centres. On 7 December 2005 the ACCC announced its view regarding transactions between Greater Union and Hoyts providing for the unwinding of certain joint operations including the operations at the Myer and Regent complexes. As a result of Hoyts' exit from these complexes, the Undertaking addressing competition issues identified by the ACCC in 2001 is no longer necessary.